Los Angeles – A private investor group is offering about $10.7 billion to acquire Univision Communications Inc., while a second group hoping to assemble a bid for the nation’s largest Spanish-language broadcaster has lost several key investors, people familiar with the situation said Wednesday.
The investor group that made the bid of slightly more than $35 per share is composed of private equity firms Madison Dearborn Partners LLC, Thomas H. Lee Partners LP, Providence Equity Partners Inc., Texas Pacific Group Inc. and media mogul Haim Saban.
The bid was less than the $40 per share the company had reportedly been seeking, according to someone familiar with the bid who spoke on condition of anonymity, citing the confidential nature of the process.
A second investor group was working on details of a potential offer, a person familiar with that group’s bid said on condition of anonymity.
That group includes two of Univision’s largest shareholders – Mexican media giant Grupo Televisa SA and Venezuelan broadcaster Venevision – plus several private-equity firms, including Bain Capital Partners LLC.
